Marqeta, Inc. (NASDAQ:MQ) Given Consensus Recommendation of “Hold” by Brokerages

Marqeta, Inc. (NASDAQ:MQ) has received a consensus rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $19.75.

A number of brokerages have commented on MQ. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods lifted their target price on Marqeta from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. UBS Group boosted their price target on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research raised Marqeta from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings raised Marqeta from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th.

Marqeta Stock Up 1.6%

MQ opened at $16.47 on Monday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 149.73 and a beta of 1.30. The firm’s 50 day moving average is $16.56 and its 200-day moving average is $16.33. Marqeta has a 52-week low of $14.80 and a 52-week high of $25.83.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $172.96 million. Marqeta had a net margin of 1.53% and a return on equity of 1.36%. Marqeta’s revenue was up 17.0% on a year-over-year basis. Equities analysts expect that Marqeta will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Elaine Paul sold 4,537 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $15.20, for a total transaction of $68,962.40. Following the completion of the sale, the director owned 8,900 shares of the company’s stock, valued at approximately $135,280. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Todd Pollak sold 18,750 shares of Marqeta stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the sale, the executive owned 185,008 shares of the company’s stock, valued at approximately $3,122,935.04. This trade represents a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MQ. Quarry LP acquired a new position in Marqeta during the 3rd quarter worth $26,000. Western Wealth Management LLC acquired a new stake in shares of Marqeta in the 1st quarter valued at about $27,000. EFG International AG acquired a new stake in shares of Marqeta in the 4th quarter valued at about $27,000. CWM LLC lifted its position in shares of Marqeta by 82.2% during the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after purchasing an additional 2,821 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Marqeta during the fourth quarter worth about $33,000. 78.64% of the stock is currently owned by institutional investors.

Marqeta Company Profile

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.